Marathon Acquires Majority Stakes in Three Kanjurmarg Projects

03 Apr 2026 CW Team

The company received intimation from the subsidiary on March 27, 2026, and has made disclosures to BSE and NSE under Regulation 30(6) of the SEBI listing obligations and disclosure requirements. By securing majority stakes, the subsidiary gains influence over project execution, enabling support for vertical expansion and strengthening the project pipeline. The acquisitions are expected to deliver operational synergies as all three entities operate in the same segment.

The group indicated that approximately 35 per cent of the projects are either already under construction or positioned for launch within the next 12 months, providing near-term revenue visibility and improved capital efficiency. The acquisition strategy is intended to accelerate cash flow realisation compared with greenfield cycles and to strengthen the developer's ability to convert inventory more rapidly. Management expects the initiatives to support faster revenue generation and to enhance shareholder value over the life of the projects.

Approximately 20 per cent of the project area has been earmarked as Permanent Transit Camp, under which constructed units are handed over to the Slum Rehabilitation Authority against other developers' requirements, enabling monetisation by catering to developers within a five kilometre radius and adjoining wards. The model is expected to benefit developers in Vile Parle East, Andheri East, Jogeshwari East and Goregaon East and to expand the company's role within the SRA redevelopment ecosystem. Marathon Group, founded in 1969, has operated for over 56 years and has completed more than 100 projects in Mumbai, providing design and execution capabilities to support integration of the acquired assets.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Marathon NextGen Realty Ltd said its subsidiary Nexzone IT Infrastructures Private Limited acquired a 51 per cent controlling interest in three entities, unlocking a combined gross development value of over Rs eight point four billion (bn) and a carpet area of zero point five nine four million (mn) sq ft in Kanjurmarg. The aggregate consideration amounts to Rs 700 million (mn) for six residential projects. The transaction gives the subsidiary majority control and aligns with the group's focus on residential and commercial development. The company received intimation from the subsidiary on March 27, 2026, and has made disclosures to BSE and NSE under Regulation 30(6) of the SEBI listing obligations and disclosure requirements. By securing majority stakes, the subsidiary gains influence over project execution, enabling support for vertical expansion and strengthening the project pipeline. The acquisitions are expected to deliver operational synergies as all three entities operate in the same segment. The group indicated that approximately 35 per cent of the projects are either already under construction or positioned for launch within the next 12 months, providing near-term revenue visibility and improved capital efficiency. The acquisition strategy is intended to accelerate cash flow realisation compared with greenfield cycles and to strengthen the developer's ability to convert inventory more rapidly. Management expects the initiatives to support faster revenue generation and to enhance shareholder value over the life of the projects. Approximately 20 per cent of the project area has been earmarked as Permanent Transit Camp, under which constructed units are handed over to the Slum Rehabilitation Authority against other developers' requirements, enabling monetisation by catering to developers within a five kilometre radius and adjoining wards. The model is expected to benefit developers in Vile Parle East, Andheri East, Jogeshwari East and Goregaon East and to expand the company's role within the SRA redevelopment ecosystem. Marathon Group, founded in 1969, has operated for over 56 years and has completed more than 100 projects in Mumbai, providing design and execution capabilities to support integration of the acquired assets.

Infrastructure Urban

07 Jul 2026

IHC and Adani to Invest US$11.5 bn in Odisha Aluminium Project

Abu Dhabi's International Holding Company (IHC) will invest US$11.5 bn in an integrated aluminium project in the eastern Indian state of Odisha in a joint venture with the Adani Group, a state official said. The official said the announcement represented the country's largest foreign investment in mining and metallurgy. Officials said the venture would span both mining and metallurgical activities across several facilities in the state. The project has been described as integrated, encompassing upstream bauxite extraction and downstream smelting and metallurgy, and is intended to develop a com..

Infrastructure Transport

07 Jul 2026

Air India and SIAEC to Explore MRO Joint Venture in India

Air India and SIA Engineering Company (SIAEC) have signed a memorandum of understanding (MoU) to explore the formation of a maintenance, repair and overhaul joint venture in India. The MoU, signed on Friday, will examine collaboration to develop India as a global aviation MRO hub and to serve growing needs across the Indian and regional markets. SIA Engineering Company, part of the Singapore Airlines Group which holds a 25.1 per cent stake in Air India, will bring technical expertise alongside Air India's established airline operations network. The partnership builds on existing cooperation be..

Infrastructure Transport

07 Jul 2026

Assam and Centre Review Aviation Projects Push Silchar Airport Approval

Assam and the Centre on Thursday, July two reviewed a series of aviation infrastructure projects aimed at strengthening air connectivity across the state, with the proposed greenfield airport at Silchar emerging as a key priority. The review formed part of broader efforts to position Assam as a major aviation and logistics hub for the north east. Officials outlined timelines and preparatory work that they said would guide the next stages of project approvals. The Chief Minister met the Union Civil Aviation Minister at Rajiv Gandhi Bhavan in New Delhi and described the meeting as very productiv..